US

Eric Sprott: We're Very Concerned About China, And We're "All In" On Precious Metals

Eric Sprott of Sprott Asset Management was just on CNBC talking about how he doesn’t trust the current economic environment, and how he’s long precious metals.

  • 0:10 I haven’t bought into this equity rally, and I have serious concerns about the banking industry’s debts
  • 0:50 Very concerned about China and the potential cooling in lending there
  • 1:35 Not convinced the GDP growth in China is equal to the amount of stimulus that they have used
  • 3:30 Gold has been the investment of the decade, and it looks better today than it has ever looked due to sovereign risks
  • 4:20 Silver has great opportunity, and may ‘act’ better than gold; not optimistic about cyclical metals like copper
  • 5:45 We’re long precious metals, and oil and gas; most levered positions possible

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